Api Power to issue 200% Right Shares after 8% Bonus

Dec 24, 2017 Merolagani

Api Power Company (API) has proposed of distributing 8 percent bonus share to its shareholders. Moreover, the company is proposing 200 percent right share issuance in its upcoming 4th annual general meeting (AGM).

 

 The company was planning to issue the right shares during the last FY, however, denial from securities board of Nepal (SEBON) postponed the process. Although, the company is planning to endorse the proposal from its AGM, without SEBON's permission, the faith of the right share is unknown.

Earlier SEBON tightened the process of right share issuance of the companies without designated regulatory bodies.

After the endorsement of proposed 8 percent bonus, the paid-up capital of the company will total Rs 1.13 billion which will further increase to Rs 3.39 billion after the right issue.


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